In order to cope with the increasingly rampant credit card cashing behavior, many banks have carried out cash installment business. Its purpose is to meet the customers who are short of money and in urgent need of money, and to open a legal cash channel for them. Different from cash withdrawal, you need to apply for cash installment. After the approval of the bank, the credit card limit will be converted into cash according to the amount applied by the cardholder, transferred to the designated debit card, and returned by the cardholder according to the specified number of periods.
In addition, it is worth noting that cash installments can generally be divided into 1, 3, 6, 12, 24 and 36. Once confirmed, the number and amount of periods cannot be changed, let alone cancelled.
2. Cash in advance
Cash advance is also called cash withdrawal. This method is the simplest. Just take your credit card and take it out of the ATM. You can also apply for a loan from a designated savings card through APP and credit card online banking. Although the method is the simplest, cash advance also has some disadvantages. For example, the maximum advance loan amount can only reach 100% of the credit line. It is of little use if the quantity is small. In addition, cash advance has handling fee and interest, the handling fee is generally 0%-3% of the cash withdrawal amount of 65438, and the handling fee is 0.05% per day.
3. Credit card loans
For large-scale consumption, such as car purchase and decoration, the bank will give a certain loan amount according to the credit status of the cardholder, and then the cardholder will repay the principal in one lump sum and in installments.
For credit card loans, we should pay attention to five aspects, namely, loan term, handling fee, down payment, limit and the time of next repayment. Among them, the credit card loan term will generally not exceed 36 months, and the shortest period will not be less than 1 month. The handling fee is a one-time fee. The fees charged by each bank are different and will be spread to each expected repayment amount. The calculation method is: handling fee = installment amount × handling fee rate.
In addition, credit card loans are mainly large consumption, so the necessary condition is that you have to pay a down payment, which is generally 10%-30%. In addition, credit card loans are also restricted. According to the applicant's credit rating, the general loan amount is 200,000-200,000. After approval, payment will generally be made within 7 working days.
Extended data:
When using credit cards, you should pay attention to the following points:
1. The credit card has a minimum repayment amount, which is 10% of the current consumption amount. Only when this amount is paid can it be considered as normal repayment, but it does not enjoy interest-free period.
2. Credit cards can be cashed, but interest is charged for cash withdrawal.
3. Credit cards cannot be cashed out, and cashing out is illegal.
Don't let others use your credit card at will.
5. Don't use other people's mobile phones to repay credit cards.
6. Don't use multi-card loans to repay credit card debts.
References:
Baidu encyclopedia-credit card
References:
Baidu encyclopedia-credit card cashing